HMRC issues urgent tax deadline warning to prevent millions 'significantly increasing the amount owed'

1 sources1 storiesFirst seen 7/29/2026Score26Mixed Progress

Single Source

Bigness

Coverage

Recency

Engagement

Velocity

Confidence

Clipability

Polarization

Claims

Contradictions

Breakthrough

Sentiment Mix

Positive0%

Neutral0%

Negative100%

Geography

North America

Expert Signals

GB News - News

source • 1 mention

AI-Generated Claims

Generated from linked receipts; click sources for full context.

Self Assessment taxpayers have just two days left to make their second payment on account before HM Revenue and Customs (HMRC) begins charging interest on any unpaid tax.The deadline falls at midnight on July 31, with taxpayers who fail to pay in full facing a late payment interest rate of 7.75 per cent on outstanding balances.The interest charge will continue to accrue until the debt is cleared, increasing the overall amount owed to HMRC.Elsa Littlewood, private client services tax partner at accountancy and business advisory firm BDO, said: "Summer can be an expensive time for families with school holidays and childcare costs weighing on people's budgets." TRENDING Stories Videos Your Say Ms Littlewood added: "Those who miss the deadline or fail to pay the full amount due should be aware that a 7.75 per cent late payment interest rate will be applied to all outstanding amounts owed after July 31.

Supported by 1 story

This can significantly increase the amount owed to HMRC as interest will continue to...

Supported by 1 story